Riyadh — Mubasher: Time Entertainment Company has rescheduled the remaining balance of an interest-free loan provided by the Chairperson of the Board of Directors, Ameerah Eidan Al Taweel, according to a bourse disclosure.
The agreement was signed on 13 August 2026, concerning a remaining balance of SAR 860,000 from an original loan totaling SAR 1.72 million.
Time Entertainment confirmed it has already repaid SAR 860,000 that represents 50% of the total loan amount as of 13 August 2026.
Under the new terms, the outstanding balance will be settled within a maximum period of three months, with a final deadline set for 15 November 2026.
The original repayment date for the full amount had been scheduled for 30 June 2026.
According to the disclosure, the rescheduling aims to support liquidity and improve working capital management to bolster operational activities.
Time Entertainment further stated that the extension carries no interest or additional financing costs and provides no preferential advantages to the lender.
The loan remains secured by a promissory note for the full principal amount.
Meanwhile, this transaction involves a related party and will utilize the general assembly's authorization granted to the board under the Companies Law.
